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Stock markets across the Asia Pacific region took their cues from Wall Street, where on Tuesday the S&P 500 neared a record closing high and the tech-focused Nasdaq closed above the 6,000 level for the first time.
In Sydney the S&P/ASX 200 was up 0.8 per cent on rallies in the information technology, financials and energy segments.
Shares in New Zealand’s a2 Milk Company rose as much as 6.4 per cent after it revised its sales expectations for the second half higher on strong sales in China and Australia.
BHP Billiton climbed as much as 1.3 per cent after the miner said it was seeking a buyer of some of its US shale gas assets, just weeks after being pressured by activist investor Elliott Advisors to spin off its US petroleum business. The company also cut production guidance for copper, iron ore and coking coal in 2017.
Tokyo’s Topix index was up 0.7 per cent, with Canon Electronics shares, up 12 per cent, among the top performers ahead of the company’s first-quarter earnings results due out in the afternoon. Hitachi Kokusai Electric was up 8.5 per cent on reports its parent Hitachi was mulling selling the chipmaking unit.
In Hong Kong the Hang Seng was up 0.4 per cent as casino stocks rallied, with Galaxy Entertainment up 1.8 per cent and rival Sands China rising the same amount.